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tv   Business  Deutsche Welle  April 12, 2019 10:30am-10:46am CEST

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klugh eleven. eleven. luck. club. ober let's investors look at its books and what they see is impressive growth what they don't see is any way for the right hailing pioneer to make a profit also coming up warnings to the world about growth as the international monetary fund and the world bank kick off their and old spring meetings and the china steps up its investment push into eastern europe western europe urges caution
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. is called rambling good to have you with us right here in company uber has filed documents for its much anticipated i.p.o. it is expected to seek a market value of close to one hundred billion dollars making it the largest offering in years. offers right sharing in some seven hundred cities and six cars on six continents and its ambitions include a broad expansion into freight and. there's a catch ybor has never made a profit and in warning the filing says it is unclear if it ever will just recently over rival lift made its debut on the market it has lost ten percent of its value since. for more that's going to turn a corner of booze and frankfurt conrad it is poised to be the biggest tech i.p.o. since e-commerce giant alibaba went public in twenty fourteen but over isn't earning any money why isn't that putting off investors. you know investors
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just seeing those tech companies differently you know conservative old school market people who are used to evaluating companies according to their earnings with those tech business is all that counts is growth what's very important is to be a first mover a first scale or the first company or among the first companies to review reach a certain amount of a customer base so that you can apply economies of scale and hopes to benefit from that kind of speculate. remember. for many many years this company didn't make money at all but it ended up to be one of the most valuable companies in the world colorados in frankfurt thank you. it's a recurring refrain by now but with undiminished urgency at a news conference marking the start of their annual spring meetings the
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international monetary fund of the world bank said seventy percent of the global economy is caught in a slowdown and trade tensions debts distress and poor policy making aren't helping . around sixty million containers like bees were shipped around the world's oceans last year filled with electronics or tennis shoes or furniture private new tariffs and trade barriers are threatening free trade according to christine lagarde at the spring conference of the international monetary fund. so we need to better addressed unfair trade practices and distortions in the system including through a w t o system reform. and we need to avoid self-inflicted wounds including tar ifs and all the barriers it would be on those barriers are having a real effect on trade the i.m.f.
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expects the world economic growth rate to decline this year to three point three percent god also warned the developing countries are not benefiting from growth in industrial nations to the same extent they have in the past. to talk more about the challenge for the world economy i well come to the studio fed and fish here is a professor for macro economics at berlin's university for applied of applied sciences sorry welcome to the program foreign and are you worried by the i.m.f. straw's or pessimistic view of the world economy. it doesn't worry no more any more than anything we've seen over the last few months we've seen a pronounced slowdown over the course of two thousand and eighteen and this continues into two thousand and nineteen to be frank i'm not sure the i.m.f. is actually pessimistic because the i.m.f. also sees an acceleration of world growth in two thousand and twenty which is not necessarily something we can expect given all the risks that are associated with
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the current economic situation political leaders deal with that or just run the economy let it run its course well the i.m.f. has argued that where fiscal space is a way to level policymakers should actually take action and address the economic slowdown if you think about the german economic situation for example in the fiscal situation there certainly is some leeway for. for growth stimulus but the government so in essence i would say that is a good reason now to act on the situation especially because we have structural long run problems in germany which call for higher physically expenditures anyway if you think about the public investment situation for example there's good reason to invest for the state to invest more anyway so it's a good situation to do it exactly right now because we have this economic slowdown and it makes sense to do these programs in this situation now and that knowledge i.m.f. chief of the guard has called a major players like china like germany to take short term action to address the
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slowing growth do you think berlin will heed the call here i'm not so sure even the new finance minister or not so new anymore but even the s.p.d. finance minister sticks to the black zero which means that basically the government does not want any new debt to incur so in a way i'm a bit skeptical there has been there has been agreement about new expenditures but those gold mainly into the pension system and other things so i'm not so sure that this is a. she. happening let's look at the big picture here i mean the two to two big stumbling blocks that the i.m.f. is talking about this breaks it and the trade conflict between the u.s. and china i mean brags it will be resolved in some issue at some point we all hope the talks between china and the u.s. seem to make progress. it looks like these two big threats could be you know gotten
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out of the way in the future right they could and this is actually what the i.m.f. assumes in its projection but they could also worsen if you think about the brics situation where expecting a solution for the situation for four months by now and it's not happening and all the uncertainty that is associated with the situation it's not so much it's not what what damages the world economy is not so much the actual bricks it or the actual introduction of carers what damages the world economies the inserts and uncertainty associated with the current situation of negotiations etc and as long as those negotiations persists persist we have a the celebration of growth and this is what is happening but the i.m.f. is optimistic they are expecting that solutions to both those problems will take place in the course of two thousand and nineteen and that is what they take as the reason for the acceleration in two thousand and twenty one last question david malpass made his first appearance as the head of the world bank yesterday he said the fight he said continue against climate change not really echoing the man that
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nominated him donald trump what do you make of that briefly if you can i would say what. is trying to steer the will bank in a new direction making it an instrument of economic of u.s. economic policy as a counter countering maybe also the chinese. expansion. in the new silk road debate you have a debate about this right now and the world bank will play a role in this in this situation i think and obviously there will. the world bank has instruments which target for example climate policy and will use those instruments to address economic interests of the u.s. abroad and in that sense he needs to stick to the instruments the world bank has and will use the economist fed enough of britain's university of blood sciences thank you so much for your visit here they have the studio three. a chinese premier
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li keqiang is in croatia meeting leaders from eastern and central europe to talk business this after a key e.u. summit in which he pledged to open up his country's economy beijing has become a huge investor in the region whether it's spending nearly matching that of the european union but some members fear china is attempting to drive a wedge between brussels and other european nations using cheap loans and joint partnerships. it by not look like much but this will soon be the site of a four hundred twenty million euro bridge spanning the adriatic. it's fine in some part with chinese money. projects like these are intended to build a bridge between beijing and states in eastern and southern europe. asia in hopes of further cement its foothold in europe for its belt and road initiative it would see china secure a transit corridor for its products from beijing to the heart of the continent. this is the plan site of a new high speed rail connection between serbia and even member hungry. once
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completed it would be a direct link for chinese goods from the built in roads he wrote into the e.u. . and china isn't just focusing on trade it's invested in this power plant in bosnia-herzegovina as well. and is helping expand this one in serbia beijing is financing infrastructure projects throughout the region bypassing typical contract bidding by offering cheap loans. but european union observers warn those loans could come at a high price and they warn china could use them as a so-called debt trap which would see china forcing partner countries to make painful political or financial concessions if they fail to repay their debts but despite the warnings there's no sign chinese investors in the region has become less welcome. the world's biggest election has gone under way in india and this election has been preceded by campaigns that underscore the heartbreaking
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plight of many indian farmers and they are so saddled with debt and other problems that thousands of them commit suicide every year prime minister narendra modi promised that farmers' incomes would double by twenty twenty two but economists say india's role economy remains depressed and the income goal still an illusion. the lives of sugar farmers aren't remotely as sweet as that crop cultivation and production of cane sugar is a tough business india is one of the largest sugar produces in the world prime minister narendra modi got many votes among rural communities in his twenty fourteen election but now his countryside supporters a bitterly disappointed they're fed up with waiting for the better life he promised them. this government into power hoping they'd bring us good days and help us double our incomes don't let us just have what we used to get. sugarcane needs
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a lot of water but there's been little rain that's beyond the government's control but it kept sugar prices to fight inflation a move which also reduced incomes sugar farmers aren't alone in their despair tens of millions of people in india depend on agriculture for their survival subsistence level and usually with high debt the government knows how important rural vote soft just in time for the elections is veiled a financial aid packet for farmers. and as this legend is taking place a multi-stage is you're going to find more on that on our website v.w. dot com slash business before we go here's a quick look at global markets i'm first called wearable and thanks for watching and have yourself a successful. i'm
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secure in the flame war. and in the end this is a me you're not allowed to stay here and more we will send you back. are you familiar with this. with the smugglers would lie and say. what's your story.
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i'm the one who isn't women especially are victims of violence. take part and send us your story we are trying in all weathers understand this new culture. are not a villa turn. you want to become a citizen. in for migrants your platform for a while information. from . the. hello and a warm welcome to news from the world of arts and culture i'm karen homestead and here's what's coming up. our house is everywhere and it may be one hundred years old but as one german furniture company shows its classic pieces are strikingly modern even today. as peaceful protest brings about
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change in algeria one of the country's leading intellectuals novelist and journalist. reflects on his latest novel and how it mirrors some of the social unrest in his country. and a brand new wooden high rise in norway has become the world's tallest timber tower we'll check it out. well it's hard to believe but the chair that you can see behind me here was created nearly one hundred years ago about how school of architecture and design may have only existed for fourteen years but its influence was far reaching as it sought to unite craftsmanship with art well for the bauhaus and teener e one german firm has in reinterpreted a line of classic furniture proof that its modernist philosophy has lost none of its punch today. this is vaulted copius is director's chair from one thousand nine
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hundred two twenty three. and here's its twenty teams reinterpretation. this is africa brendan's to.

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